IS IT A TRUST WHEN PARENTS RECEIVE MONEY ON BEHALF OF THEIR CHILD?

A complicated situation can occur for estate lawyers when the surviving parents of the deceased have previously received or held money on their child’s behalf. The question arises as to the basis upon which the money is held and a recent case before the District Court of South Australia is an example of the issues that can be raised. The parties to the case were formerly husband and wife. In 2007 their son died intestate (or without a will) and the mother obtained a Grant of Letters of Administration* with respect to his estate. In 1991...

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